GBA Huizhou Business Investment
Hotline:86-755-82148419 Email:susiehu@citilinkia.com
Huizhou, the easternmost city of the Greater Bay Area, is a big place. It could fit Shenzhen, Dongguan and most of central Guangzhou into its borders.With forests, beaches and traditional villages, Huizhou has big potential in tourism. The city is also aiming to ride the tech-upgrade momentum created by the GBA masterplan.
Huizhou has a lot going for it. Its natural resources can be better exploited to develop a more valuable tourism industry, while its manufacturing industry is ripe for upgrade, especially as neighboring Shenzhen and Dongguan are running out of space. Once a bastion of labor-intensive, low-margin industries such as footwear, now the focus is on electronics, vehicle production, oil and chemical production, and clean energy. Moreover, Huizhou has a big magnet for heavy industry. The Daya Bay Oil and Chemical Industrial Zone is one of the top 20 chemical industrial parks in China, producing 22 million tons of oil and 2.2 million tons of ethylene each year. It is continuing to grow, attracting some major investments.
The latest City Honors in 2018
Top 10 Healthiest Cities in China
National Social Governance Innovation Demonstration City in 2017
National Water Ecological Civilization City
Huizhou has high hopes for its electronics and IT industry, aiming for an output of RMB1 trillion from each in the coming years. Plans are centered on the Zhongkai Hi-tech Development Zone.
Located at the border of Shenzhen, Dongguan and Huzihou, the Zhongkai Hi-tech Development Zone had the fourth largest GDP among the seven regions in Huizhou at RMB63.1 billion last year. However, it had the lowest growth rate at 2.1%, largely due to a slowdown in exports, which had a knock-on effect on investment.
The Tonghu Ecological Smart Zone is one of the key projects in the zone. It is the primary project of the China-South Korea Huizhou Industrial Park. Listed in Guangdong’s three-year plan for GBA development, the smart zone has industrial parks, innovation centers and supplementary living facilities.
To facilitate people who want to invest and set up business in Huizhou, here is an introduction of Types of business presence in China: Foreign Investors generally establish a business presence in China in one of five modes: Wholly Foreign Owned Enterprise (WFOE); Representative Office; Foreign Invested Partnership Enterprises (FIPE); Joint Venture and Hong Kong Holding Company.
Basic Elements on Company Setup on WFOE/FIPE/JOINT VENTURE
1. Registered Capital
The minimal capital requirements on WFOE in 99% business has been removed to aim at lowering the threshold for business startups and stimulating the foreign direct investment. But regional and industrial differences still exist.
2. Business Scope
The business scope of WFOEs is entirely Chinese characteristics, which is not quite universal in some western countries. Incorporating a WFOE in China does not mean that you can engage in any kinds of business activities. Instead, it can only operate under the business scope approved by Chinese authorities.
3. Registered Address
You could rent an office in China or freely choose our different packages of registered address to start your company right away. The registered address recommendation varies based on customers’ business plan and enterprise types in China.
Contact Us
If you have further queries, don’t hesitate to contact ATAHK anytime, anywhere by calling Hong Kong hotline at 852-27826888 or China hotline at 86-755-82148419 or emailing to susiehu@citilinkia.com. You are also welcome to visit our office situated in 16/F, Taiyangdao Bldg 2020, Dongmen South Rd, Luohu, Shenzhen, China.